$529,900
Investment Summary
- Monthly Cash Flow
- -$968
- Cap Rate
- 3.9%
- Cash-on-Cash Return
- -9.5%
- Debt Coverage Ratio
- 0.64
- Internal Rate of Return (5 years)
- -5.2%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Fantistic Opportunity To Purchase A Home In The Highly Sought After "Shoreham- Wading River" School District At An Affordable Price And Reasonable Taxes, Plus A Wonderful Quiet, Yet Convenient Location On A Lovely Tree Lined Neighborhood Street Close To Major Roadways, Route 25A Shopping & Schools, Close To Wildwood State Park & Long Island Sound Beaches, And Only A Short Drive To The Farmstands, Vineyards, Championship Golf Courses, Tanger Outlet Mall & Quaint Towns Of The Bucolic North Fork! Beginning With Beautiful Curb Appeal...Wrapped In Tall Privacy/Shade Trees & Lovely Mature Landscape, An Oversized Four Car Belgium Block Lined Driveway Leads To Front Door And Upon Entering The Home You Are Greeted By A Light & Bright, Warm & Inviting Floorplan...A Welcoming Formal Entrance Foyer Offers Ceramic Tile Floors, An Oversized Coat Closet, And Opens Into The Formal Living Room, Kitchen & The Stairway To The Basement/Lower Level. The Welcoming, Elegant Formal Living Room Offers A Beautiful Large Bay Window For Natural Light, Hardwood Floors, Ample Room For A Large Living Room Set/Furniture, And Opens Into The Formal Dining Room. The Comfortable Formal Dining Room Offers Ample Room For A Good Sized Table & Chairs, Room For Entertaining Family & Friends, Hardwood Floors, Lovely Chandelier, Sliding Doors To A Large Deck & The Backyard, And Opens Into The Kitchen. The Beautifully Renovated, Cabinet Lined Kitchen Offers Walls Of Custom Cabinetry With Lovely Crown Moldings & Details, Granite Countertops With A Corner Undermount Sink ,Tiled Backsplash, Stainless Steel Appliances (Samsung French Door Refrigerator With Two Drawer Bottom Freezer, Water & Ice Maker, Ceramic Top Stove, Samsung Built In Microwave Oven & GE Dishwasher), Built In Pantry, Ceramic Tile Floors, Recessed Lighting & A Large Window For Natural Light. The Lovely Hallway To The Bedrooms Offers Hardwood Floors, A Linen Closet & Pull Down Attic Storage And Leads To Three Nicely Sized Bedrooms & A Full/Guest Bathroom...The Inviting, Well Sized Primary Bedroom Offers Hardwood Floors, Two Corner Windows For An Abundance Of Natural Light, Double Sized Mirrored Closet, Ceiling Fan & Ample Room For A Good Sized Bedroom Set/Furniture, The First Guest Bedroom Is Well Sized Offering Hardwood Floors, A Large Window For Natural Light, Good Sized Closet, Ceiling Fan & Ample Room For Furniture, The Second, Larger Guest Bedroom Offers Hardwood Floors, Chair Railings, Two Corner Windows For Natural Light, Ceiling Fan, A Good Sized Closet & Ample Room For Furniture, And The Lovely Upgraded Hallway/Guest Bathroom Offers A Modern Vanity, Upgraded Fixtures, Wainscoted Walls And A Full Bathtub With Al Styled Fiberglass Walls/Tub Surround. The Full, Large Basement Offers Many Possibilities For Creating Additional Living Space, Lots Of Storage Space, Utilities (Heating System, Hot Water Heater & Oil Tank), Washer & Dryer And An Outside Entrance & The Fully Fenced (PVC Fencing Front Sides) Large Backyard Offers A 15'3" x 15'2" Deck For Barbequing & Entertaining, And Ample Room For An In Ground Pool. Additional Features Include: Raised Panel Doors, Updated Windows, Architectural Roof & Electric Panel, And An ADT Alarm System With Cameras. True Taxes (Without Any Exemptions) Are: $9269.75. Hurry To See This Lovely Home & Wonderful Convenient Location In The Top Rated Shoreham - Wading River School District Before It's Gone!
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Location
Property Details
Parking
- Description: Driveway, Private
- Details: Driveway, Private
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
- Basement: Yes
- Basement Description: Full, Storage Space, Walk-Out Access
Exterior Features
- Exterior Walls Materials: Wood
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0200105.0002.00010.000
- Lot Size: 10890 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 1960
Tax Information
- Annual Tax: $9,269
Utilities
- Water & Sewer: Public
- Heating: Baseboard, Oil
- Cooling: Wall/Window Unit(s)
Location
- County: Suffolk
Listing Details
Investment Summary
- Monthly Cash Flow
- -$968
- Cap Rate
- 3.9%
- Cash-on-Cash Return
- -9.5%
- Debt Coverage Ratio
- 0.64
- Internal Rate of Return (5 years)
- -5.2%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $529,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$423,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $105,980 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $15,897 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $121,877 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,008 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $526 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $3.57 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $423,920 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.500% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $2,679 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $773 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $252 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $3,704 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 21% | -$773 | -$9,270 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$252 | -$3,024 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$288 | -$3,456 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$180 | -$2,160 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$180 | -$2,160 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 46% | -$1,673 | -$20,070 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $1,711 | $20,532 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$2,679 | -$32,148 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$968 | -$11,616 |